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Siviwe Gwarube tells us why the DA could help South Africa succeed!

Siviwe Gwarube tells us why the DA could help South Africa succeed!

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    SA petrol price down, diesel up from 5 October

    The Department of Mineral Resources and Energy has announced that the petrol pump price will decrease by up to R1.02 a litre and the diesel price will rise by up to 15 cents a litre from 5 October.
    Source: Reuters/Siphiwe Sibeko
    Source: Reuters/Siphiwe Sibeko

    Fuel prices are adjusted monthly due to factors including global oil prices and the rand exchange rate.

    The Ukraine war and its knock-on effects sent oil prices soaring earlier this year, driving South African fuel prices higher and sending inflation to a 13-year peak of 7.8% in July.

    But global oil prices have eased in recent months, helping domestic inflation to fall slightly to 7.6% in August.

    Despite that decline, South Africa's central bank delivered another 75 basis point interest rate hike in September as it tries to bring inflation back within its 3% to 6% target range, citing oil prices among potential risks.

    Source: Reuters

    Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

    Go to: https://www.reuters.com/

    About Anait Miridzhanian

    Reporting by Anait Miridzhanian; Editing by James Macharia Chege
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